Zomato IPO oversubscribed 1.3 times ...Middle East

Zomato's initial public offering was oversubscribed 1.3 times on the second day of the offering with retail investors continuing to bid for shares of the food delivery platform. The offer received bids for 95.44 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 3.96 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 51.36 crore shares were bid by 1400 hours. Non-institutional investors put in bids for 26 per cent against their reserved portion while qualified institutional buyers (QIBs) fully took their quota of 38.8 crore shares. The portion set aside for employees has been subsc

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